8 apps like Dave for small cash advances

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Dave is one of the most popular finance apps. It made a name for itself by eliminating overdraft fees for its customers. Known for having received an investment from Shark Tank’s Mark Cuban in its early stages, Dave is known as one of the top no-fee cash advance apps.

Put simply, a cash advance is a short-term loan made available by an institution, usually for a relatively small amount. Dave is not the only one offering this service. Therefore, consumers should weigh their options and choose the one that is best for them.

What apps are similar to Dave?

Many consumers may have questions like, “What apps can I use to borrow money instantly?” and “Which app will give me cash now?” Besides Dave, here are eight of the best cash advance apps that people can use to get cash fast right now.

1. Chimes

Chime offers its customers a fee-free overdraft service called SpotMe. Users can claim up to $20 through SpotMe, with the limit increasing to $200 once a customer meets certain criteria related to account history and activity.

To qualify for SpotMe, members must have received at least $200 via direct deposit in the previous 34 days and have an active Chime debit card. Once the conditions are met, clients are automatically placed in a fee-free overdraft facility, subject to their own limits. The negative balance will be returned on a user’s next deposit.

Another additional benefit with Chime is the payment up to two days in advance. If a user is also set up with a direct deposit, they qualify.

advantages

  • No fees
  • Two day early paycheck
  • Up to $200 cash advance

Disadvantages

  • Limits depend on user activity
  • Must have an active debit card and direct deposit set up
Advance payment paycheck standard fees
Up to $200 Up to two days earlier none

2. Varo

Varo offers similar cash advance services but with stricter eligibility requirements. The service known as Varo Advance requires an active account that has been open for at least 30 days. Must have made direct deposits of $1,000 in the last 30 days and have an active Varo debit card linked to a Varo bank account.

Varo members can get a cash advance of $20 or less for free, but there are additional fees based on the amount borrowed. Varo’s cash advance limit is $100.

Once direct deposit is set up at Varo, users can also take advantage of the two-day early paycheck. This benefit also includes early payment for tax refunds.

advantages

  • No fees for cash advances of $20 or less
  • Two day early paycheck

Disadvantages

  • Percentage high fees
  • Low cash credit limit
Advance payment paycheck standard fees
Up to $100 Up to two days earlier $0 – $5

3. Earn

Earnin is unique on this list as it allows clients to access the money they have earned from their work before payday arrives. It calculates what percentage of a user’s paycheck is available for cashing based on how far along they are in the pay cycle.

Suppose a user is paid monthly and has already worked half of the month. They can claim their wages before payday. However, some restrictions apply. A maximum of $500 can be claimed early per pay period and only $100 can be redeemed per day.

Most withdrawals take 2 to 3 business days. However, depending on a user’s primary bank, they may qualify for a Lightning Speed ​​payment. In this case, withdrawals can be processed within 30 minutes, but members must be aware that fees may apply in this scenario.

Two-day early payroll is also available should a user decide not to use this service. Earnin doesn’t charge any direct usage fees itself, but customers can tip for services.

advantages

  • No fees
  • Two day early paycheck
  • Up to $500 cash advance

Disadvantages

  • Bank charges may apply to Lightning Speed ​​payments
  • Available to US citizens only
Advance payment paycheck standard fees
Up to $500 Up to two days earlier none

4. Albert

Albert provides cash advances of up to $250 with no interest and no late fees. The negative balance will be deducted from the next paycheck once the user gets paid. Users do not need to sign up for Albert’s paid subscription tier to access cash advances.

However, a limiting factor is the $4.99 fee for instant cash access. Otherwise, it takes 2 to 3 days for the cash transaction to reach the customer’s account.

Other benefits include two-day paychecks and no credit impact on cash advances.

advantages

  • No fees for standard shipping
  • Two day early paycheck
  • Up to $250 cash advance
  • No credit impact

Disadvantages

  • $4.99 for instant cash advances
Advance payment paycheck standard fees
Up to $250 Up to two days earlier none

5. MoneyLion

MoneyLion operates a service called Instacash that allows users to claim up to $250 in cash advances. To qualify, customers simply need to link a checking account. Initially, members can claim a cash advance of up to $50, but limits increase once MoneyLion has determined that a user has recurring monthly income.

MoneyLion’s Instacash service has no fees and does not affect customers’ credit scores. However, if the money is needed quickly, a “turbo fee” applies. Normal delivery takes 12 to 48 hours with a RoarMoney account or 3 to 5 business days with a regular bank account. For instant cash advances, fees can be as high as $5.99 for RoarMoney accounts or $7.99 for external cards and accounts.

MoneyLion members can also get paid 2 days earlier by signing up for a RoarMoney account and linking a direct deposit.

advantages

  • No fees for standard shipping
  • Two day early paycheck
  • Up to $250 cash advance

Disadvantages

  • “Turbo fees” apply to instant transfers
  • No credit impact
Advance payment paycheck standard fees
Up to $250 Up to two days earlier none

6. SoFi

SoFi offers cash advance services through its credit card. Unlike other companies mentioned on this list, SoFi is a bank, so the limits are much higher. The minimum cash advance is $40, but members can also claim up to $1,000 in cash advance credits per day.

Standard fees apply to larger cash advance options. This is either $10 or 5%, and the interest charged is the greater of the two. SoFi members can also request paychecks up to two days early.

advantages

  • Large cash advances possible
  • Two day early paycheck

Disadvantages

  • Must have a SoFi credit card
  • Higher fees than most
Advance payment paycheck standard fees
Up to $1,000 per day Up to two days earlier Up to 5%

7. Empower

The Empower app allows users to claim up to $250 in cash advances. There are no credit checks, interest or fees. Eligibility takes into account earned income and account activity to decide what amount a customer can borrow. Empower also offers a two-day early payroll system.

An Empower card must be activated to receive a cash advance. It costs an $8 monthly subscription, but that comes with additional perks like cash back bonuses and free ATM withdrawals.

advantages

  • No interest or fees
  • Two day early paycheck
  • Up to $250 cash advance

Disadvantages

  • Account criteria determine cash advance amounts
  • Paid Subscription Service
Advance payment paycheck standard fees
Up to $250 Up to two days earlier $8 per month

8. Bridget

The Brigit app gives users the ability to claim up to $250 in cash advances. It does not include interest, fees or “tips” like many other apps.

However, to benefit from cash advances, a paid subscription of $9.99 per month is required.

Plus, benefits like overdraft protection, identity theft insurance, flexible repayment schedules, and credit generators are available.

advantages

  • No interest, fees or tips
  • Up to $250 cash advance
  • Additional services included

Disadvantages

  • Account criteria determine cash advance amounts
  • subscription
Advance payment paycheck standard fees
Up to $250 No benefit $9.99 per month

Final recording

Cash advances without accruing interest can make sense. For the most part, however, consumers should aim to only use apps like Dave for cash advances in emergencies. Regular use of cash advance services can create bad money habits and result in high interest rates if not managed properly.

Information is correct as of June 16, 2022.

Our in-house research team and on-site financial experts work together to create content that is accurate, impartial and timely. We verify every single statistic, quote, and fact against trusted primary sources to ensure the information we provide is accurate. Learn more about GOBankingRates’ processes and standards in our editorial policy.

About the author

David is a qualified financial advisor in the Republic of Ireland. He has a bachelor’s degree in business and entrepreneurship and over five years of investment experience.

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